National Consumer Credit Protection Act 2009

CHAPTER 3 - RESPONSIBLE LENDING CONDUCT  

PART 3-2A - LICENSEES THAT ARE CREDIT PROVIDERS UNDER CREDIT CONTRACTS: ADDITIONAL RULES RELATING TO STANDARD HOME LOANS  

Division 2 - Key Facts Sheets for standard home loans  

SECTION 133AD   CREDIT PROVIDER TO PROVIDE KEY FACTS SHEET IN OTHER SITUATIONS  

When this section applies

133AD(1)    
This section applies if:

(a) either:

(i) a consumer makes a request to a licensee (otherwise than by using a website of the licensee) to be provided with a Key Facts Sheet for one or more standard home loans of the licensee that are specified in the request; or

(ii) the regulations require a consumer, in circumstances prescribed by the regulations, to be provided with a Key Facts Sheet for one or more standard home loans of a licensee; and

(b) the consumer has given the licensee the consumer ' s name, and the contact details required by the regulations.

Requirement

133AD(2)    
The licensee must, in accordance with any requirements prescribed by the regulations:

(a) provide the consumer with a Key Facts Sheet containing up-to-date information for the standard home loan, or for each of the standard home loans; and

(b) provide the consumer with any other information relating to other standard home loans of the licensee that is required by the regulations.

Note:

Subsection 133AE(4) and section 133AF provide defences to liability under this subsection.

Civil penalty: 5,000 penalty units.

Offence

133AD(3)    
A person commits an offence if:

(a) the person is subject to a requirement under subsection (2); and

(b) the person engages in conduct; and

(c) the conduct contravenes the requirement.

Criminal penalty: 50 penalty units.

Note:

Subsection 133AE(4) and section 133AF provide defences to liability under this subsection.